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Supreme Court of the United States › Stock Drop Litigation

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Proskauer - Employee Benefits & Executive...

Seventh Circuit Affirms Dismissal of ERISA Stock-Drop Case

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Since the Supreme Court’s ruling in Fifth Third Bancorp v. Dudenhoeffer, courts around the country have overwhelmingly rejected ERISA fiduciary-breach claims by 401(k) plan participants seeking relief related to investments...more

Verrill

Supreme Court Declines to Address Pleading Standards in Stock-Drop Litigation – Retirement Plans Committee of IBM v. Jander...

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On November 9, 2020, the Supreme Court declined to consider an appeal from the Second Circuit Court of Appeals in Retirement Plans Committee of IBM v. Jander, leaving unresolved for now questions about the specificity...more

ArentFox Schiff

Supreme Court Opinion Sheds No Light on Elusive Stock-Drop Pleading Standard

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In January, the Supreme Court issued its highly anticipated opinion in Retirement Plans Committee of IBM v. Jander, No. 18-1165, a case that promised to clarify the pleading standard applicable to ERISA stock-drop cases. But...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

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Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Skadden, Arps, Slate, Meagher & Flom LLP

Securities Class Action Filings Continue Record Pace

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Several securities litigation trends over recent years show no signs of abating in 2020. Federal securities class action filings seem likely to remain at elevated levels. Last year, for the third consecutive year, more than...more

Skadden, Arps, Slate, Meagher & Flom LLP

2019-20 Supreme Court Update

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The U.S. Supreme Court’s 2019-20 term is receiving substantial attention for cases involving signature initiatives of President Donald Trump’s administration. But the Court also maintains an extensive docket directly relevant...more

Goodwin

Federal Government Advocates Industry-Friendly Position in ESOP Stock Drop Supreme Court Case

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Recently, the U.S. Supreme Court granted a writ of certiorari to hear Retirement Plans Committee of IBM v. Jander, a case about the legal standard for pleading a claim for breach of fiduciary duties under the Employee...more

Littler

Does Jander Signal the Liberalization of Pleading Standards in Stock-Drop Cases? Signs Point to No

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The Second Circuit sent shock waves through the community of ERISA stock-drop practitioners late last year in Jander v. Retirement Plans Committee of IBM by finding plan participants had plausibly alleged a breach of duty of...more

Proskauer Rose LLP

ERISA Newsletter - Second Quarter 2019

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Editor's Overview - As the summer heats up, so too has the U.S. Supreme Court's docket for next term where it has already agreed to hear three ERISA cases and more may be in the works. On the docket already are ERISA...more

Seyfarth Shaw LLP

The Supreme Court Will Take Another Look At Its ERISA Stock-Drop Pleading Standard

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Synopsis: ERISA stock-drop litigation has diminished in recent years due to the Supreme Court’s Dudenhoeffer decision (and a rising stock market). Now, the Court will have another chance to weigh in on whether federal ERISA...more

McDermott Will & Emery

US Supreme Court to Review Unusual Second Circuit Decision in Stock Drop Case Against IBM

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On Monday, the US Supreme Court agreed to review the Second Circuit’s decision in Jander v. Retirement Plans Committee of IBM, a “stock drop” lawsuit against IBM’s benefit plan fiduciaries. The Second Circuit’s decision...more

Proskauer - Employee Benefits & Executive...

U.S. Supreme Court Agrees to Hear IBM’s Challenge to Second Circuit Ruling in ERISA Stock-Drop Suit

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In December 2018, we reported here that the Second Circuit became the first court at any level to allow an ERISA stock-drop claim to survive a motion to dismiss since the Supreme Court revamped the pleading standard for such...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: Securities Class Action Filings Show No Signs of Abating

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As anticipated, securities class action filings remained high in 2018, with more than 400 filings in federal court, and the number is expected to remain high in 2019. While the total number is slightly less than in 2017, it...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The European Commission has drafted a new set of digital taxes as an answer to last year’s US tax overhaul that imposed a new minimum tax on the overseas efforts of companies with US operations. The EU’s plan would require...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Near-Record Securities Litigation Filings Show No Signs of Slowing"

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Plaintiffs filed 300 securities class actions in 2016 — a mark much higher than the annual average of 221 from 2011 to 2015 (as reported by NERA Economic Consulting). Indeed, the number of filings in 2016 was the...more

Dechert LLP

Financial Services Quarterly Report - Second Quarter 2016: Does the Supreme Court’s Dudenhoeffer Decision under ERISA do “More...

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Earlier this year, the U.S. Supreme Court decided the case of Amgen v. Harris, in which the Court revisited and clarified its 2014 holding in Dudenhoeffer v. Fifth Third Bancorp.2 Both cases concern the application of a...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - April 2016

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Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

Proskauer - Employee Benefits & Executive...

District Court Applies Dudenhoeffer “More Harm Than Good” Standard to Closely-Held Corporation

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A federal district court in Mississippi ruled for the first time that the “more harm than good” pleading standard established by the Supreme Court in Fifth Third Bancorp v. Dudenhoeffer, 134 S. Ct. 2459 (2014), applied to...more

Carlton Fields

SCOTUS v. the Ninth Circuit on Failure to Enforce ERISA Stock-Drop Pleading Standard

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In a terse per curiam opinion, the U.S. Supreme Court in Amgen Inc. v. Harris, No. 15-278 (U.S. Jan. 25, 2016), made clear that it expects lower courts to faithfully apply the pleading requirements for “stock-drop” cases...more

Wilson Sonsini Goodrich & Rosati

U.S. Supreme Court Clarifies Pleading Standard for Cases Involving Retirement Plan Investments in Employer Stock

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The U.S. Supreme Court's recent decision in Amgen, Inc. v. Harris makes clear that the Court's heightened pleading standard applies to claims that a fiduciary of a retirement plan that has investments in employer stock should...more

Snell & Wilmer

Supreme Court Provides Additional Clarity on Pleading Requirements for ERISA Stock Drop Cases

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The Supreme Court has provided additional clarity on the Fifth Third Bancorp v. Dudenhoeffer decision. In Dudenhoeffer, the Supreme Court held that a fiduciary decision to invest in employer stock is not deemed to be...more

McDermott Will & Emery

Supreme Court Emphasizes Heightened Pleading Standard for Stock Drop Cases

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On January 25, 2016, the Supreme Court of the United States issued a per curiam opinion in Amgen Inc. v. Harris, holding that the Amgen, Inc. employees who filed suit after the value of the employer stock in which they had...more

Franczek P.C.

U.S. Supreme Court Clarifies the Scope of ERISA Fiduciary Obligations in Recent Stock Drop Decision

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In recent years, plaintiffs’ lawyers have brought numerous ERISA breach of fiduciary duty lawsuits against employers that offer employer stock funds in their 401(k) plans. These lawsuits are typically brought on behalf of...more

Jackson Walker

Supreme Court Revisits Stock Drop Fiduciary Standards

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In Amgen v. Harris, the Supreme Court for the second time considered whether the plan participants sufficiently stated a claim against the plan fiduciaries for breach of fiduciary duty under ERISA by continuing to provide...more

Dechert LLP

Be Careful What You Wish For – Dudenhoeffer May Do “More Harm Than Good” For ERISA “Stock Drop” Plaintiffs

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In its June 2014 decision in Dudenhoeffer v. Fifth Third Bank, the U.S. Supreme Court unanimously declined to recognize a “presumption of prudence” that had favored retirement-plan fiduciaries faced with allegations of...more

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